ProFunds Group Launches 8 New Leveraged ETFs

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 |  Includes: DXD, QID, SDOW, SKF, SMDD, SQQQ, SRTY, TBT, TQQQ, UDOW, UMDD, URTY
by: optionMONSTER

By Mike Yamamoto

ProFunds Group, the largest manager of leveraged and inverse funds, is launching eight new exchange-traded funds. Three of the pairs were listed last last week on NYSE Arca and one on the Nasdaq exchange.

TQQQ Chart

A pair of ETFs, one with a daily objective of triple the returns and one with a daily triple-short goal, is opening on each of the following indexes: the Nasdaq 100, Dow Jones Industrial Average, S&P Mid-Cap 400, and Russell 2000.

Here are the 3x long ETFs:

Here are the 3x short ETFs:

We're all familiar with the very successful and actively traded offereings from ProShares, such as the SKF, DXD, QID, and TBT, and these new triple-leveraged ETFs should see some interest almost immediately. You should be aware that leveraged or inverse ETFs seek a return that is a multiple or inverse multiple of the return of an index or other benchmark for a single day and that leveraged ETFs may not track 3x long or short over weeks or months.

A version of this post appeared on InsideOptions last week. Chart courtesy of tradeMONSTER.